Remarks by the Deputy Prime Minister and Minister of Finance at the opening of the new International Sustainability Standards Board office in Montreal
June 28, 2022
Good afternoon, everyone.
I would first like to acknowledge that the lands on which we are meeting are part of the traditional unceded territory of the Kanien'kehá:ka nation, which has long served as a place of gathering and exchange between nations.
I’m very proud to be able to join you for the opening of the Montreal office of the International Sustainability Standards Board.
Bringing the ISSB to Canada was truly a team effort. I want to thank the leadership of the IFRS (International Financial Reporting Standards) Foundation and the ISSB.
And I want to congratulate all of the public and private institutions that worked so hard to make this possible.
Our government knew from the beginning that we wanted Canada to be one of the two international homes for the ISSB. We were sure about it, and we worked to make it happen.
In this year’s budget, we confirmed an investment of $8 million to support the opening of the Montreal office of the ISSB.
We were eager to make this investment because we know that Canada has so much to gain from the green transition, and because it will help make Canada, Quebec, and Montreal a leader in sustainable finance as the global economy continues its shift towards net-zero.
The ISSB and its new Montreal office will help lead the development of a global baseline for sustainability disclosures.
This means providing the world with access to reliable and transparent sustainability information, and strengthening accountability for companies and investors.
Canadians, like everyone else, are becoming increasingly aware—and critical—of the environmental impacts that companies have.
And I must say that President Putin has demonstrated once again that we must move faster, as fast as possible in the green transition.
And the ISSB will help the world make smarter decisions when it is becoming increasingly clear that the success of a company will depend on their commitment to sustainability.
This new ISSB office will create good jobs here in Montreal, play a vital role in establishing Quebec—and Canada—as a hub for sustainable finance, and help to accelerate the growth of the green economy here at home and around the world.
This is a great day for Montreal, for Quebec, and for Canada. Thank you, and congratulations again.
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